Fixed Deposits & Interest for Foreigners in Thai Banks (2026)
A 12-month Thai baht fixed deposit at a major bank pays roughly 0.5–1.1% a year in mid-2026, and the bank automatically withholds 15% tax on whatever interest you earn before it hits your account. Foreigners with a normal resident bank account can open one; those without Thai residency status are usually pushed into a Foreign Currency Deposit (FCD) account instead, which sometimes pays more. After tax, a Thai FD is a safe parking spot for money you don't need to touch, not a way to grow it.
Thai policy rates have fallen a long way since 2023, so the numbers below are a snapshot, not a promise. Baht figures come first, with US dollars in parentheses at the site anchor of ฿33/USD.
Quick answer: what you're actually getting
- THB fixed deposit rates: roughly ฿0.5–1.1% a year for 12-month terms at Bangkok Bank, Kasikorn, SCB, Krungthai and Krungsri as of early-to-mid 2026 — confirm the posted rate before you lock in, since it moves with each BOT rate decision.
- 15% withholding tax is deducted automatically on all fixed deposit interest, for Thai nationals and foreigners alike — no exemption threshold, unlike ordinary savings accounts.
- FCD accounts sometimes pay noticeably more on short-term USD deposits (promotional rates have run 3.5–4.5%/yr) because they track global rates, not Thai ones.
- Non-residents and most DTV holders generally can't open a standard resident FD account; the workable route is usually an FCD account, not guaranteed without an existing Thai relationship.
- Bank of Thailand's policy rate sat at 1% through mid-2026, its lowest since 2022 — the direct reason Thai deposit rates are unusually thin right now.
Who can actually open a fixed deposit account
A fixed deposit is not standalone — it's a sub-account tied to an existing savings or current account at the same bank. The real gatekeeper is whether you can open a regular Thai account at all, covered in the how to open a Thai bank account guide and best banks for foreigners comparison.
A foreigner with a long-term visa (retirement extension, LTR, Non-B with work permit, marriage visa) and an existing savings account can usually open a fixed deposit against it at a branch. A tourist or DTV holder has a much harder case — Thai banks are refusing new accounts to DTV applicants almost across the board in 2026 under tighter anti-mule KYC rules, which shuts the door on a resident-account FD too. See opening a Thai bank account on a DTV for the honest state of play — treat any workaround as "sometimes, not guaranteed."
Non-residents are typically routed to a Foreign Currency Deposit (FCD) account instead. Bangkok Bank's FCD-for-non-residents product needs a minimum initial deposit of about USD 1,000 and a modest average balance to skip a small monthly fee — covered more below.
Current fixed deposit rates at Thai banks (2026)
| Bank | 3-month | 6-month | 12-month |
|---|---|---|---|
| Bangkok Bank | ~0.80% | ~0.85% | ~0.95% |
| Kasikorn Bank | ~0.75% | ~0.80% | ~0.95% |
| SCB | ~0.80% | ~0.90% | ~1.00% |
| Krungthai Bank | ~0.80% | ~0.85% | ~1.10% |
| Krungsri (Bank of Ayudhya) | ~0.80% | ~0.90% | ~1.05% |
Source: Thaiwebsites.com Thai bank term-deposit tracker and Kasikorn Bank's posted deposit-rate table (effective 6 January 2026) · verified July 2026 · ฿33/USD. Rates move with each Bank of Thailand policy decision — the BOT held its policy rate at 1% through mid-2026, the lowest since 2022, so posted rates have drifted down from the 2023 levels many trackers still quote. Confirm the exact current rate at your branch or the bank's rate page before you commit funds.
Two notes before you lock money up: promotional "step-up" deposits sometimes beat the table above by a few tenths of a percent for a limited window, and longer terms don't always pay more — some banks' 24-month rate barely beats their 12-month rate.
The 15% withholding tax on interest
Thailand withholds tax on bank interest at a flat 15%, deducted before it's credited, for Thai nationals and foreigners alike. This is separate from, and unrelated to, the remittance-based tax on foreign income under Por 161/162: interest paid by a Thai bank is Thai-source income, taxable regardless of your residency status or where the original capital came from.
A commonly cited exemption — interest under ฿20,000 a year escaping personal income tax — applies to ordinary savings deposits, not fixed deposits, which are withheld at 15% from the first baht with no carve-out.
If you're a Thai tax resident (present ≥180 days in the calendar year) with modest overall income, you may be able to file a return, report the interest at the marginal PIT rate instead of the flat 15%, and claim a refund — Thailand's income tax starts at 0% on the first ฿150,000 of net income, so someone with little other Thai-source income could be over-taxed by the automatic withholding. That needs a Thai tax ID and annual filing, worth it only if the amounts justify it. Non-residents generally can't reclaim it; the 15% is final. See the Thai tax status tracker for the wider reform picture.
Foreign Currency Deposit (FCD) accounts — often the better math
An FCD account lets you hold USD, GBP, EUR or AUD inside a Thai bank without converting to baht, and it's the standard route for non-residents who can't open a normal savings account. The math can favor the FCD: because it tracks global rates rather than Thailand's unusually low 1% policy rate, promotional short-term USD deposits have posted 3.5–4.5% a year at some banks — several multiples of the THB table above, even after the same 15% withholding.
An FCD also proves funds arrived from abroad in foreign currency — the paperwork behind the FET form required for foreign condo purchases and tax-free repatriation. Full breakdown at foreign currency deposit (FCD) accounts.
Thai FD vs. keeping the money at home
Run the numbers before moving savings into a Thai fixed deposit purely to "put it to work." A ฿1,000,000 (~$30,300) 12-month deposit at 1.0% gross earns about ฿10,000; after 15% withholding you keep roughly ฿8,500 — well under 1% net. Many home-country high-yield savings accounts have paid noticeably more through 2024–2026, though rates vary by country, so check your own bank's current figure rather than assume.
The honest case for a Thai FD isn't yield — it's convenience and currency matching. If you already need baht sitting in Thailand for rent, school fees or a condo purchase, an FD earns something instead of nothing while it waits. Without a near-term baht purpose, moving funds via Wise rather than Revolut into a higher-yielding home account, and transferring only what's needed, usually beats parking a large sum in a sub-1% Thai deposit.
Don't lock visa-seasoning funds into a fixed deposit
If the money in your account is doing double duty as visa proof — the DTV's ฿500,000, the retirement extension's ฿800,000, or the marriage visa's ฿400,000 — think twice before moving it into a fixed deposit. Immigration and embassies want to see funds in an accessible account they can verify on demand; a term-locked FD complicates that, and breaking the term early to prove liquidity can cost the accrued interest. Check the DTV financial requirements or retirement visa money rules first, and use the DTV funds checker to confirm seasoning is on track. Keep visa-minimum funds liquid; only fixed-deposit money beyond that minimum.
Frequently Asked Questions
Can foreigners open a fixed deposit account in Thailand?
Yes, if you already hold a regular Thai savings or current account — a fixed deposit is opened against that account, not as a standalone product. Non-residents and most DTV holders are generally routed to an FCD account instead, since new resident accounts are being refused to DTV applicants almost universally in 2026.
What is the fixed deposit interest rate in Thailand right now?
Roughly ฿0.5–1.1% a year for 12-month terms at the major banks as of early-to-mid 2026, after the BOT held its policy rate at 1%, the lowest since 2022. Confirm the posted rate before depositing, since it changes with each policy decision.
Do foreigners pay tax on interest from a Thai bank account?
Yes. Thai banks withhold 15% tax on fixed deposit interest automatically, for foreigners and Thai nationals alike, because it's Thai-source income regardless of residency. Tax residents with modest income can sometimes file a return and reclaim part of it; non-residents generally can't, and the 15% is final.
Is a foreign currency deposit account better than a baht fixed deposit?
Often, yes, for larger sums you don't need in baht soon. FCD accounts track global rates rather than Thailand's low policy rate, and promotional USD terms have paid 3.5–4.5% versus roughly 1% or less on a THB fixed deposit, though both carry the same 15% withholding.
Can I use a fixed deposit to satisfy a Thai visa financial requirement?
Be careful. Immigration and embassies want visa-seasoning funds in an accessible account they can verify, not locked in a term deposit. Keep the required minimum liquid and only fixed-deposit money beyond that threshold.
The bottom line
A Thai fixed deposit is a safe, low-effort place to park baht you already need in Thailand, not a growth strategy — at roughly 0.5–1.1% before a flat 15% withholding tax, you're barely ahead of inflation most years. If you're a non-resident, an FCD account is usually the only door open anyway, and its foreign-currency rates can genuinely beat the baht table. Keep money tied to a visa's financial requirement liquid, and treat every rate here as a starting point to confirm at the branch, not a locked-in number.
Sources
- Kasikorn Bank Table of Deposit Rates, effective 6 January 2026
- Thaiwebsites.com Thai Bank Term-Deposit and FCD Rates, accessed 2026-07-10
- Bank of Thailand, Policy Interest Rate decisions, accessed 2026-07-10
- Thailand Revenue Department, Withholding Tax Rates for Interest (rd.go.th), accessed 2026-07-10
- PwC Thailand Worldwide Tax Summaries, Individual Income Determination, accessed 2026-07-10
- Bangkok Bank, FCD Account for Non-Residents, accessed 2026-07-10
